Samsung Galaxy S5 Mini Smartphone

Samsung is rolling out a smaller version of its Galaxy S5 smartphone, less than three months after the company launched its new flagship device

The smaller version of the company's flagship device comes a day after Samsung launched four other smartphones in its Galaxy family.

The new 4.5-inch Galaxy S5 mini continues Samsung's tradition of offering a smaller, less expensive version of its flagship smartphone, and is illustrative of the company's aggressive approach in a highly competitive market that includes such heavyweights as Apple and its popular iPhone.

The new Android-running device, announced July 1, also comes a day after the Korean tech giant expanded its Galaxy portfolio of smartphones with four new devices that officials said were more affordable than other offerings.

In announcing the S5 mini, JK Shin, CEO of Samsung Electronics and head of IT and mobile communication at the company, said the goal is to offer devices designed to meet a wide range of consumer demands.